The NZDUSD loses momentum – Analysis - 08-07-2022

The NZDUSD pair continues to rise calmly to approach the EMA50 that forms good resistance against the price, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the bearish trend that its next target located at 0.6100.

Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 0.6240.

The expected trading range for today is between 0.6120 support and 0.6230 resistance

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The expected trend for today: Bearish